Accounts (Principles of Accounts)Depreciation of non-current assetsJAMB
A machine cost ₦500,000 and is expected to last 5 years with a scrap value of ₦50,000. Annual depreciation by the straight-line method is
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Answer: C. ₦90,000
(500,000 − 50,000) ÷ 5 = ₦90,000 a year.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.